Hi rajak01,
While you might be able to put together a list of Schools/Programs that might not require a GMAT score (or a particularly high GMAT score), a standardized Test Score (GMAT or GRE) is a common part of the application process for most Business Schools. As such, when you ask about "Top Universities" that might not require a Test Score, you're probably not going to find any.
In your "Plan B" scenario, you have to ultimately decide what is more important - going to a Top School that can offer you a degree that fits your needs or going to any School that would accept you (which is likely what we're talking about if you don't have a GMAT score).
The overall process of getting into Business School is a big series of tasks - but they are all standardized and predictable.
1) When are you planning to apply to Business School?
2) Why is it that you're having trouble finding time to study for the GMAT?
GMAT assassins aren't born, they're made,
Rich